Market Definition
Multi-cloud management is the process of managing and coordinating multiple cloud computing services. This can include public, private, and hybrid cloud environments. Multi-cloud management can help organizations optimize performance and cost, while also reducing risk. It can also provide greater flexibility and agility, as well as improve disaster recovery. Some of the challenges of multi-cloud management include security, complexity, and vendor lock-in. Organizations need to carefully consider these challenges when choosing to use multiple cloud services.
Market Outlook
The global Multi-Cloud Management Market was valued at 4.8 billion in 2021 and it is anticipated to grow up to USD 47.8 billion by 2031, at a CAGR of 25.8% during the forecast period.
The key drivers of the multi-cloud management market are the increasing adoption of cloud services, the need for centralized management of cloud resources, and the need to reduce operational costs. The increasing adoption of cloud services is one of the key drivers of the multi-cloud management market. With the increasing adoption of cloud services, organizations are facing the challenge of managing multiple cloud environments. This has led to the need for centralized management of cloud resources. The need to reduce operational costs is another driver of the multi-cloud management market. With the increasing adoption of cloud services, organizations are looking for ways to reduce their IT costs. The use of multi-cloud management solutions can help organizations reduce their IT costs by reducing the number of IT staff required to manage their cloud environments.
Multi-cloud management refers to the process of managing multiple cloud computing environments. It is a challenge for organizations because it requires coordination and communication among different teams, as well as a clear understanding of the dependencies between the various clouds. In addition, multi-cloud management can be difficult to scale, as the number of clouds increases.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Market Segmentation
The report analyses the global Multi-Cloud Management Market based on Deployment Model, Organization Size, Application, End-user, and Region.
Global Multi-Cloud Management Market by Deployment Model
Based on the deployment model, the multi-cloud management market industry is divided into Private Cloud, Public Cloud, and Hybrid Cloud. Of these, the hybrid segment registered significant revenue in 2021. The hybrid cloud segment is poised to showcase significant gains through 2031, attributed to the development of cloud-bursting technology. Cloud bursting technology enables users to seamlessly transition applications running on private cloud to public cloud when demand for computing resources is high. This ensures reliable performance even during peak loads and offers cost benefits since users pay only for the extra computing resources as and when they are required. As enterprises become aware of the advantages of hybrid cloud such as enhanced business agility and secure operations, the multi-cloud management deployment is likely to grow profoundly.
Global Multi-Cloud Management Market by Organization Size
By organization size, the industry is bifurcated into Large Enterprises, and SMEs. In 2021, the large enterprises segment was expected to account for the largest market share in 2021. due to increasing importance of multi-cloud management based automated orchestration. According to the 2021 EuroStat report on cloud computing, approximately 68% of European large enterprises that deploy some form of cloud computing services have spent more than USD 2.4 million average on cloud computing. The increasing usage of multi-cloud management tools by large enterprises to reduce manual IT Services Management (ITSM) has created new market opportunities for the segment.
Global Multi-Cloud Management Market by Application
Based on application, the industry is categorized into infectious disease, oncology, blood screening and others. Infectious disease is further divided into Cloud Automation, Reporting & Analytics, Migration & Integration, Training & Consulting, Monitoring & Access Management, and Data Security & Risk Management. The cloud automation segment is expected to grow at a highest CAGR between 2022 and 2031 led by the extensive adoption of cloud-based technologies for supply chain continuity of electronic components. Taiwan is among the largest semiconductor manufacturing hotspots in the world, and enterprises are leveraging cloud automation technologies for AI-infused ERP and supply chain management systems. For instance, in March 2022, ASUSTek Computer Inc. announced an investment of USD 18.86 million in Taiwan Web Services, a cloud service provider in Taiwan. This investment was aimed at offering cloud computing services with the development of “Artificial Intelligence of Things” (AIoT) and the 5G ecosystem.
Global Multi-Cloud Management Market by End-user
Based on end-user, the Multi-Cloud Management Market is divided into Hospitality, IT & Telecom, Healthcare & Life Sciences, BFSI, Government, Retail, and Others. The IT and Telecom segment accounted for significant share in 2021 impelled by the rising awareness on the usage of multi-cloud management tools to complement the capabilities of Network Function Virtualization (NFV) technologies. This has led the German telecom service providers to utilize multiple cloud platforms to manage their container-based networks. The advent of several virtualization technologies, including virtual firewalls, traffic routing, and broadband remote server address has proliferated the demand for multi-cloud management solutions. Infrastructure-as-a-Code (IaaC) coupled with automated-based IT orchestration is assisting the German IT & telecom industry to efficiently code & pack virtualization processes into containers, driving the regional market growth.
Geographical Analysis of Global Multi-Cloud Management Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Europe multi-cloud management market captured significant market share in 2021 and is poised to grow substantially during the forthcoming years. Advances in multi-cloud management market. The regional industry has been buoyed by maturity in adopting cloud & AI technologies. Over 30 European giants including Volkswagen, Unilever, HSBC, BP, and Siemens have already implemented a multi-cloud environment. Along with industry players, the European Union is working on cloud-based technologies.
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Major Players
Major Players in the Global Multi-Cloud Management Market
The global industry is characterized by the increasing focus on improving cloud platform interoperability and strengthening the enterprise mobility framework. A surge in ICT expenditure and increase in cloud implementation across end users, including SMEs and large enterprises, are anticipated to augment the adoption of hybrid and multi-cloud computing. The growing demand for more flexibility in business processes in North America and Europe is projected to fuel the industry growth. The high degree of competition and low barriers of entry in the market have forced established companies to continuously launch new products with added functionalities to maintain competitiveness and profitability.
The key players in the market BMC Software, Inc., Citrix Systems Inc., CloudBolt Software, Inc., CoreStack, Dell Technologies Inc., Flexera Software LLC, Jamcracker Inc., Microsoft Corporation, Concierto.cloud, and UnityOneCloud. among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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